If your running a sed command with slashes and have problems, instead of using slashes to determine the file being found and replaced with, use @ instead.
sed -i 's@ORACLE_HOME=$ORACLE_BASE/product/10.1.0/client@ORACLE_HOME=$ORACLE_BASE/product/11.2.0/client@' profile
If you need to replace text which contains slashes. Instead of having to escape them try the below example.
Just use = instead of the usual /word/word2/
sed -e 's=http://word1=http://word2=' file
To search between 2 times within an apache log.
Run the below
sed -n '/22\/Aug\/2011:15:40:/,/22\/Aug\/2011:16:00:/ p' accesslog.log